Biotech IPO Stampede Continues With Five More Companies

The 2021 IPO rush continues with five more companies looking to trade on an exchange.

Tenaya Therapeutics Hot off the heels of a $106 Million Series C Financing Round, heart disease-targeted Tenaya Therapeutics filed for a $100 million IPO. Tenaya Therapeutics, based in South San Francisco, promotes a gene therapy program for heart disease.

The company’s lead program is MYBPC3, an adeno-associated virus (AAV) gene therapy targeting genetic hypertrophic cardiomyopathy caused by a mutation in the MYBPC3 gene. MYBPC3 is intended for both adults and pediatric patients. The gene therapy candidate is currently in studies in preparation for an Investigational New Drug Application.

Tenaya is also developing a second AAV gene therapy that uses the muscle-specific micro-peptide discovered in-house, called DWORF, that affects the SERCA pathway. The company believes the therapy has potential as a treatment for patients with genetic cardiomyopathies due to specific mutations and more prevalent heart failure populations.

Tenaya plans to list on the Nasdaq Stock Exchange under the ticker symbol TNYA.

Rani Therapeutics Right away new CEO in placeRani Therapeutics, California, is looking to list on the Nasdaq exchange under the ticker symbol RANI. Company filed for a $100 million IPO last week, according to Renaissance Capital.

Rani Therapeutics is developing the RainPill capsule, a robotic pill that has the potential to deliver a biological agent into the gut via a dissolvable needle. The RainPill capsule is intended to replace subcutaneous and intravenous injections. The goal is to deliver the biologic medication into the inner walls of the intestines to take advantage of the vascularized area. The belief is that the drug will have a more effective effect through this delivery mechanism.

Last month, Rani enlisted former Strategy Vice President Talat Imran to serve as CEO. Talat Imran replaces Mir Imran, the company’s founder and former CEO, who will become executive chairman of the company’s board of directors.

Omega Therapeutics Flagship Pioneer-Backed Omega Therapeutics filed for an IPO with the US Securities and Exchange Commission last week. The company aims Raising $100 Million and will be listed on the Nasdaq under the ticker symbol OMGA.

Cambridge, Mass.-based Omega comes from a $126 Million Series C Financing Round. The candidate for the company’s epigenomic control mechanism is OTX-2002, a potential treatment for hepatocellular carcinoma. OTX-2002 was developed to specifically control c-myc (MYC) oncogene expression. In preclinical models of hepatocellular carcinoma (HCC), OTX-2002 potently downregulated MYC expression, a result that has historically eluded many previous attempts and therapeutic approaches.

immunity Six months after raising $62 million in a Series B financing round, Immuneering Corporation plans to list on the Nasdaq under the ticker symbol IMRX, Renaissance Capital reported. Bay State-based Immuneering filed for a $100 million IPO last week.

immunity patented Disease Canceling Technology aims to develop drugs that stop or reverse disease signals in multiple relevant genes. The company’s lead research program is IMM-1-104, a highly selective dual-MEK inhibitor being developed for the treatment of advanced solid tumor patients harboring RAS mutant tumors.

MaxCyte Maryland based MaxCyte, a commercial cell technology company, aims to: Raising $100 Million on the Nasdaq. The company has applied for a listing under the ticker symbol MXCT. MaxCyte is currently listed on the London Stock Exchange.